Euro crisis cripples government finances
Finland has joined most of the rest of Europe with a rise in its standard VAT rate to help manage the long-term effects of the 2007/08 financial crisis and subsequent Euro-currency crisis.
The primary Value Added Tax rate will increase from 23% to 24% on 1 January 2013. The rate last rose, from 22% to 23% in July 2010.
The reduced VAT rates of 9% and 13% will also increase to 10% and 14%, respectively.
Other countries forced into austerity VAT rate changes include: UK, Romania, Poland, Ireland, Hungary, France, Spain, Greece, Czech Republic.
VAT Calc’s global VAT and GST rates checker provides live indirect tax rates from around the world.
